Economics Professional

ID : 33205

Description: The Economics Professional program presents basic concepts necessary to an informed understanding of the economy. Starting with individual consumer behavior and corporate actions, the program, offered by our accredited school partners, moves on to explain both micro- and macroeconomics and the interplay between these 2 perspectives in terms of output, unemployment, inflation, productivity and growth. The effects at the micro level are different to those at the macro level, but sometimes they can also run in parallel and students will study the different ways in which all aspects of the economy are affected.

This extensive program Introduction assumes students are new to the study of economics outlining economic theory and moving through analysis of supply and demand, government action, competitive markets and different types of economic markets that present unique challenges. This program encompasses economic principles (both microeconomic and macroeconomic) and problems. The purpose of the program is for students to develop a logical, conceptual, and analytical understanding of economic principles and to deal with problems associated with the allocation of resources, decisions made by consumers, production by firms, and pricing in various market conditions, government actions in markets, measuring aggregate output, economic growth, employment and unemployment, money and banking, and fiscal and monetary policies intended to achieve economic goals. Enroll through one of our accredited university or college partners today!

Instructor Description: This class supported by an Educational Mentor. Educational mentors have worked or are working in the subject they mentor. Educational Mentors review student work, student progress, and interact with students as needed. They respond to any questions or concerns you might have, as well as encouraging and motivating you to succeed.

RequirementsThis program does not require any additional purchases of supplementary materials.

Lesson 1Course modules:• The economic way of thinking• How free and competitive markets allocate resources efficiently through the interaction of supply and demand• The different effects caused by changes in demand and supply conditions• How government actions affect markets• The effects of trade on the economy• The effects of externalities• The firm’s cost of production• Firm behavior in perfectly competitive markets• Monopoly, monopolistic competition, and oligopoly• Components of the macroeconomy• The factors influencing economic growth• Fiscal and monetary policy• Measurements of gross domestic product and inflation as key indicators of aggregate economic performance• The significant relationships between employment and output in the short and long runs• The differences in growth rates over time and between economies• How the financial markets function to allocate loanable funds and determine interest rates• Key components of the U.S. monetary system• Changes in the supply of and demand for money• How changes in aggregate supply and aggregate demand result in business cycles• Economic policy using the aggregate expenditure multiplier• The relationship between inflation and unemployment in the short run• The demand and supply effects of fiscal policy on employment and gross domestic product• The objectives and tools of the Federal Reserve’s monetary policy• The effects of government policies in international markets• Evaluate the models used by economists to explain how efficient production decisions are made in an environment of scarcity• The impacts of government actions in markets on efficiency and fairness• The impacts of taxes on consumers, producers, employers, and workers• The benefits and costs of international trade• The provision and importance of public goods• Methods of efficiently dealing with negative externalities• How rational consumers make choices to maximize their satisfaction• The firm’s short-run and long-run costs• Decisions made by a firm operating in perfectly competitive markets• The behavior of a monopoly• How firms in monopolistic competition and oligopoly determine their profit-maximizing strategies• The way factor markets determine a society’s distribution of income